Self-Study
1
Basic
Accounting
There are no prerequisites.

Course Description

This course discusses the process of translating financial statements from foreign currency into U.S. dollars. It also covers the accounting and reporting of foreign currency transactions. You'll learn about 1) forward contracts, which are used for hedging or speculative purposes; 2) what's involved in the sale or liquidation of an investment in a foreign entity; and 3) the tax impact related to foreign currency dealings. Footnote disclosures, which are necessary so readers can properly appraise a company's exposure in overseas operations to variability in foreign exchange rates, are also explained.



Instructor

Delta Publishing

For many years, Delta Publishing has offered a wide variety of continuing education courses for financial professionals. Topics covered by Delta’s courses include accounting, financial management, budgeting, investments, financial statement reporting, business management, IFRS, ethics, valuations, real estate, and business writing. The diversity and breadth of Delta’s course offerings make the company a prolific and unique contributor to the CPE world. Delta’s well-credentialed authors and contributors have also been published in numerous academic and professional journals and quoted by some of the leading financial media outlets.



Course Specifics

Accounting
Mar 1, 2017
There are no prerequisites.
SS1163317
37
None


Compliance Information

103220
Qualifies for CA Fraud: No


Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Identify the different risks associated with foreign currency and exchange rates.
  • Cite the factors affecting the selection of a company's functional currency.
  • Identify how different foreign currency transactions should to be reported.
  • Define the terminology used in foreign currency transactions.
  • Identify the requirements and objectives for remeasurement and translation.



Table of Contents

Foreign Currency Accounting

Learning Objectives

The Functional Currency

Foreign Currency Transactions

Review Questions

Translation Process

Current Rate Method

Remeasurement Method

Financial Statement Treatment

Highly Inflationary Environment in Foreign Country

Hedging

Sale or Liquidation of an Investment in a Foreign Entity

Intercompany Profits

Excluding a Foreign Entity from Financial Statements

Foreign Operations in the United States

Taxes

Disclosures

Summary

Appendix – Annual Report References

Johnson & Johnson

Varian

IBM

DuPont

Review Questions

Review Question Answers and Rationales

Glossary

Index

Qualified Assessment

Answer Sheet

Course Evaluation

 



Choose Your Preferred Format


Online Access

Get immediate access to a robust collection of learning and reference materials, allowing you to dive deep into the information you need. Our self-study materials are authored by top-quality, industry experts who focus on helping you grasp concepts quickly using real-life examples. Download your CPE to any device, and take it with you so you can learn when and wherever you want. Complete your CPE with an online exam, and enjoy instant grading with the option to print your certificate immediately upon passing.

online access
Hard Copy

Our self-study materials are authored by top-quality, industry experts. You’ll receive a bound notebook of all the course materials, shipped to you within one business day. In addition, you’ll also have full online access. Each self-study package includes a robust collection of learning and reference materials to help you cover the information efficiently and put it into practice immediately.

hard copy
Self-Study Video

Experience high-quality instruction with our Self-Study Videos, available to you 24/7. With more than 80+ videos currently in the Western CPE Self-Study Video library, you can see and hear our expert instructors deliver the information you need in a dynamic way that allows you to immediately apply your learning. Unlike a live course or webcast, you can complete the course on your own time, playing and pausing as needed. Self-Study Videos allow you to complete your CPE requirements on your own time.

hard copy


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